Allegheny Technologies Incorporated (ATI) : Mcclain Value Management reduced its stake in Allegheny Technologies Incorporated by 56.86% during the most recent quarter end. The investment management company now holds a total of 414,772 shares of Allegheny Technologies Incorporated which is valued at $6,453,852 after selling 546,584 shares in Allegheny Technologies Incorporated , the firm said in a disclosure report filed with the SEC on May 3, 2016.Allegheny Technologies Incorporated makes up approximately 5.25% of Mcclain Value Management’s portfolio.
Other Hedge Funds, Including , Scout Investments added ATI to its portfolio by purchasing 793,827 company shares during the most recent quarter which is valued at $12,351,948. Allegheny Technologies Incorporated makes up approx 0.34% of Scout Investments’s portfolio.Cadence Capital Management reduced its stake in ATI by selling 4,297 shares or 23.47% in the most recent quarter. The Hedge Fund company now holds 14,010 shares of ATI which is valued at $217,996. Allegheny Technologies Incorporated makes up approx 0.02% of Cadence Capital Management’s portfolio.Icm Asset Management Incwa reduced its stake in ATI by selling 100,915 shares or 72.29% in the most recent quarter. The Hedge Fund company now holds 38,680 shares of ATI which is valued at $601,861. Allegheny Technologies Incorporated makes up approx 0.94% of Icm Asset Management Incwa’s portfolio.Klcm Advisors boosted its stake in ATI in the latest quarter, The investment management firm added 19,855 additional shares and now holds a total of 1,151,820 shares of Allegheny Technologies Incorporated which is valued at $18,820,739. Allegheny Technologies Incorporated makes up approx 6.37% of Klcm Advisors’s portfolio.
Allegheny Technologies Incorporated opened for trading at $14.35 and hit $14.85 on the upside on Tuesday, eventually ending the session at $14.85, with a gain of 4.95% or 0.7 points. The heightened volatility saw the trading volume jump to 15,83,683 shares. Company has a market cap of $1,617 M.
On the company’s financial health, Allegheny Technologies Incorporated reported $-0.58 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $-0.56. The company had revenue of $757.50 million for the quarter, compared to analysts expectations of $796.57 million. The company’s revenue was down -32.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.09 EPS.
Many Wall Street Analysts have commented on Allegheny Technologies Incorporated. Company shares were Reiterated by Deutsche Bank on Mar 23, 2016 to “Hold”, Firm has raised the Price Target to $ 13 from a previous price target of $10 .Allegheny Technologies Incorporated was Initiated by Berenberg to “Hold” on Mar 3, 2016. Shares were Reiterated by Rosenblatt on Feb 11, 2016 to “Buy” and Lowered the Price Target to $ 18 from a previous price target of $23 .
Allegheny Technologies Incorporated is a specialty materials and components producer. The Company’s standard products include specialty stainless sheet stainless steel sheet and stainless steel plate. It operates through two business segments: High Performance Materials & Components and Flat Rolled Products. It’s High Performance Materials & Components segment produces converts and distributes high performance materials including titanium and titanium-based alloys nickel- and cobalt-based alloys and superalloys zirconium and related alloys. It’s Flat Rolled Products segment produces converts and distributes stainless steel nickel-based alloys specialty alloys and titanium and titanium-based alloys.